Tanium Raises $120 Million, Boosts Valuation to $3.5 Billion

It took seven years for Tanium Inc. to reach a valuation of $900 million. Fourteen months later, the cybersecurity-focused startup is being valued at nearly four times that amount, in a sign of investors’ growing appetite for the sector.

Wednesday, Tanium said it had raised $120 million in a round led by TPG Capital, Institutional Venture Partners and T. Rowe Price Associates. The investment values Tanium at $3.5 billion, a person familiar with the matter said.